In this white paper we address a topic that is often given too little attention, when discussing balancing. Most scientific papers on this topic deal with different electrical schemes to maximize the balancing current. However, another important aspect of balancing is deciding which current to apply to which cell: this is the so-called balancing strategy. We will explain that the balancing strategy is equally important as the electrical setup and smart combinations of both lead to the optimal balancing solution. To get there, this paper is divided into three chapters. The first one discusses the reason for balancing. The second chapter then gives an overview of possible active balancing circuits and is followed by the third chapter, which presents possible balancing strategies for the different circuits.